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Halifax: British holiday purchasing power 16% lower

27 February 2006

Britons holidaying in Europe will need 16 per cent more spending money than they would have in 2002, according to a new study.

Four years ago, the purchasing power was significantly greater than it is today for British holidaymakers travelling to the most popular destinations on the continent.

Football fans journeying to Germany this summer for the World Cup will need 13 per cent more spending money than they would have four years ago, according to a study by Halifax Travel Insurance.

Similarly, purchasing power in Spain has gone down by a fifth, while Britons going to Italy will need 13 per cent more money for their holidays this year, the study calculates.

Budget airlines such as easyJet are becoming increasingly popular, but Halifax warns that Britons to take the whole cost of the holiday into consideration.

"It is important when choosing a holiday destination that travellers not only consider the cost of travel and accommodation, but also how much it will cost to purchase goods and services when they are in the country," said Vicky Emmott, senior underwriter at Halifax Travel Insurance.

"Holidaymakers should check the newspapers to see how the pound is performing against other currencies and ask their travel operator how expensive it is to eat out and visit attractions at their preferred situation."